Transnet's Acting Chief Executive Officer Mohammed Mahomedy is testifying before State Capture Commission of Inquiry in Parktown.State Capture Commission
He says transactions for advisory services from Trillian Capital, Regiments, McKinsey and Nkonki by-passed proper governance processes and cost Transnet billions of rands in losses. He adds that Transnet irregularly paid Gupta-linked Regiments Capital over R280 million for a contract that was originally set at R35 million.requested the board to approve an irregular R16 billion increase in payment for the 1064 locomotives tender.
He says the acquisition was originally set at R38 billion, but Molefe asked the board to approve an increase to R54 billion.who was appointed by Molefe to head the locomotives negotiations.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Traditional TV viewing stable - BRC - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Broadcast Research Council of South Africa has released its Television Audience Measurement Update. It’s found that traditional television viewing remains stable despite the growing use of on-line streaming services. The Council also found that load shedding has had a negative impact on viewership and advertisers. Over The Top media services also known as OTTs …
Source: SABC News Online - 🏆 32. / 51 Read more »
Online school registration postponed - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Gauteng Education MEC Panyaza Lesufi has postponed the online school registration process by a week. Online registration has been used in Gauteng schools for four years now. So this afriforum with their 4 seats now they want to hold our education into ransom imagine if they can win elections we will go back to apartheid n its a fact
Source: SABC News Online - 🏆 32. / 51 Read more »
SAHRC expected back in Alexandra - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Human Rights Commission (SAHRC) will be back again on Monday in the Alexandra township, north of Johannesburg to continue its probe into the violent protests that erupted in the run-up to the general elections.
Source: SABC News Online - 🏆 32. / 51 Read more »
Gauteng Legislature up for grabs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.And this year still the leaders of SA is ANC I believe ANC will still grab it. It’s too early.
Source: SABC News Online - 🏆 32. / 51 Read more »
Maimane's resignation imminent: Analyst - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Political Analyst Asanda Ngoasheng says Democratic Alliance (DA) leader Mmusi Maimane's resignation is imminent. She says the DA is a party in turmoil and has an identity crisis. Huh?
Source: SABC News Online - 🏆 32. / 51 Read more »
Prasa resumes services in KZN - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The Passenger Rail Agency of South Africa (PRASA) in KwaZulu-Natal has resumed its train services.%
Source: SABC News Online - 🏆 32. / 51 Read more »
IEC expects spike in results - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.We agree,,, we want to see fair elections, hahahahahahahahahahaha,, South Africa for who..
Source: SABC News Online - 🏆 32. / 51 Read more »
Mampintsha case postponed to June - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The assault case against musician, Mandla 'Mampintsha' Maphumulo has been postponed to the 11 June at the Pinetown Magistrate's Court in KwaZulu-Natal.
Source: SABC News Online - 🏆 32. / 51 Read more »
Mining production decreases by 1.1% - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The mining sector continues to take strain. Statistics SA data shows mining production decreased by 1.1% year-on-year in March.
Source: SABC News Online - 🏆 32. / 51 Read more »
Mamelodi Sundowns clinch PSL title - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Mamelodi Sundowns have clinched the ABSA Premiership title. The Brazilians beat Free-State Stars 1-0 in a tightly contested match in Bethlehem. Phakamani Mahlambi put the champions one up in the 43rd minute after a close-range shot. Going into the match, Sundowns coach Pitso Mosimane noted that he was aware the match will go down as …
Source: SABC News Online - 🏆 32. / 51 Read more »